Topic: PrimeXBT🔥Daily Trade Ideas 🔥FREE - page 3. (Read 731 times)

XRPUSD has gradually maintained its price move below the $0.40579.
On the 4hours time frame price has move horizontally without breaking the resistance mentioned above and at the same time has formed a chart pattern called THE HEAD&SHOULDER BOTTOM.
Head-and-shoulders bottoms are reliable chart patterns that sport a low failure rate and good average rise.
Price trend downward leading to the pattern, the Shape looks more like a 3-valley pattern with the middle valley below the others. The pattern should look like an inverted person's head and shoulders , proportional, and not lopsided. The two shoulders should bottom near the same price, be nearly the same distance from the head, and look similar (both wide or both narrow), if this doesn't show up then a lower left shoulder valley when compared to the right shoulder valley results in best postbreakout performance.
Volume presented should be highest on the left shoulder or head, diminished on the right shoulder. Trends downward 65% of the time.
The pattern confirms as a valid one when price closes above a down-sloping neckline or above the right armpit when the neckline slopes upward.
A breakout from the neckline will confirm the move up to meet the first target. Always wait for price to break out from the neckline and close above it.
VERDICT:
BUY: $0.41160
SELL: $0.43865 up to $0.52701
STOP LOSS: $0.34912
Remember TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.

This is always wise, you don't want to risk your full amount in one trade, unless you have a high risk appetite or you're only sitting on a small amount of BTC. In this market I'd never risk my whole stack on one thing happening because it's too unpredictable.

Your good wishes have come true now the price continues to increase and away from the price of $ 3000.
I think the price will continue to increase along with this good news.

Please share your trading ideas here, let's make opportunities to profit from such a bad market

My opinion is that you can sell partially, and leave rest position for the resistance break level scenario

$4500 is the key resistance level, that's where I'd personally be considering selling my bitcoin and looking to buy the dip, if the price broke through to about $4700 I'd look to cut my losses. Even if we do break the $4500 resistance I don't expect it to be at the first time of asking.

So here is the new trade idea:



The bearish shark pattern is one type of the harmonic chart pattern. The Harmonic Shark Pattern has some similarities with the Crab harmonic pattern . The harmonic chart patterns( bearish and bullish ) are more complex because it deals with the use of the fibonacci retracement and extention ratios. The following below are the steps that needs to be followed:
0 - Price drops from 0 to a low of X, then retraces up to A. This indicates the start of a move.
AB - retrace between 1.13 – 1.618 Fibonacci Extension of XA leg
BC - extends to 113% Fibonacci extension of 0X leg;
C down to the possible target - Poses a target of 50% Fibonacci Retracement of BC leg.
Once price turns at C, short the BTCUSD . Because this pattern has such a high failure rate (30%).
Always wait for the C LEG to be completed.
VERDICT:
SELL/SHORT: $4452 up to $4586
BUY:$3869
STOP LOSS:$4755
Disclaimer: This is for educational purposes,it is not intended as a financial advice.
The analyst won't be responsible for a loss of fund. Trader should be able to manage risk.

i advise catching short moves instead of opening the long-term positions as the market not looking confident enough

hopefully this is good news and it's time for bitcoin to fly, I think bitcoin won't fall back below $ 3000.
hopefully the altcoin will follow and prices will improve.

While the market is in the red zone it seems a good idea to post your trade ideas for marginal day-trading as volatility significantly increased.